Investing.com - Asian shares were mixed with Tokyo showing a rebound a day after a North Korean missile test over Japan, but with investors poised to react anew to fresh provocations after the United Nations Security Council condemned Pyongyang again for ramping up its weapons programs.after
In Japan, the Nikkei 225 rose 0.53% and in South Korea the Kospi gained 0.09%. The S&P/ASX 200 in Australia however dipped by 0.15%. Australia's largest telco, Telstra, was in the spotlight after falling almost 8% as it said Wednesday it would be abandoning a plan to monetize future income from National Broadband Network.
In Greater China, the Hang Seng index in hong Kong rose 0.79%, while the Shanghai Composite dipped 0.03%. Hong Kong-listed shares of China Southern Airlines were up 4.74% after the airline announced Tuesday that its first-half profit had fallen 11%. Shares of the company traded on the mainland jumped 5.81%.
Overnight, U.S. stocks closed in positive on Tuesday, led by a move higher in technology stocks while easing geopolitical tensions added to upside momentum.
The Dow Jones Industrial Average closed lower at 21,8865. The S&P 500 closed 0.08% higher while the Nasdaq Composite closed at 6301.89, up 0.30%.
U.S. stocks shrugged off earlier risk-off sentiment, following a North Korea missile that flew over Japan, as traders expected that military action against North Korea would be avoided amid a lack of a detailed response from Washington.
President Donald Trump said in a statement Tuesday that "all options are on the table" for dealing with North Korea.
Steve Bannon, the former chief strategist to Trump, said in an interview with the American Prospect earlier this month that there is "no military solution" to North Korea.
Meanwhile, sentiment on technology stocks turned positive, after shares of Apple (NASDAQ:NASDAQ:AAPL) hit all-time highs, as anticipation builds for the tech giant’s upcoming product launches, rumored to include its latest smartphone, the iPhone 8.
Economic data showing consumer confidence unexpectedly rose in August also supported a recovery in US stocks.
The Consumer Confidence Index rose in August to 122.9, despite expectations of a decline, The Conference Board announced Tuesday.
A slump in energy stocks, however continued to weigh on the broader market as crude oil futures settled in negative territory for a second day in row as Storm Harvey continued to wreak havoc in Texas, the heart of the U.S. oil industry.